Community Call #9 Recap

Published in

Ricochet Exchange

4 min readDec 15, 2021

This is a text digest of what was discussed on our community call. Check out the recorded call and subscribe to our YouTube here: https://youtu.be/BsYyRgRehjM

Find us on Twitter: https://twitter.com/ricochetxchange

To check out the suite of Ricochet products or start streaming check us out here: https://app.ricochet.exchange/invest

Ricochet Protocol

Ricochet Protocol brings abstraction to the Ricochet smart contracts to allow quicker real-time investing product development.

REXBase market contains superfluid integrations and IDA share management
Level 2 shows the application specific extensions of the base
Level 3 contains deployed contracts, each initialized with different init params

IDLE DAO Collaboration

We are excited to partner with Idle Finance who aligns with our mission to bring simple, automated, and effortless investing to the masses.

Incentives and streams begin Wednesday, December 15th.

USDC → IDLE rexMarket: $2,000 in $RIC rewards for streamers

rexMarket : The Ricochet Exchange flagship product. Allows you to dollar-cost average in real-time in and out of assets like $IDLE $MATIC $WETH $WBTC $MKR.

USDC → IDLE/WETH rexLP: $2,000 in $RIC rewards on top of the usual Sushi staking rewards (around 25% currently) for streamers

rexLP : Our rexLP product allows you to dollar-cost average into staked Sushi LP positions (currently at an hourly interval). Currently, USDC → USDC/WETH is our only LP but we are happy to bring you IDLE/WETH along with additional LPs soon!

In the future we are looking to create rexMarket streams that will give you a chance to invest real time into yield-bearing idleTokens. This will allow you to earn the top yields in the ecosystem all while dollar-cost averaging into your favorite digital assets or stable coins! We will gain support from the Polygon grant program that Idle received when we create these tools.

Companies Streaming Salaries to Superfluid

Coinshift will be streaming salaries to full-time team members using Superfluid. We at Ricochet believe streaming payroll through Superfluid will only grow more popular with Web 3 teams moving forward. We already see MakerDAO, Delphi Digital, and Jarvis doing this currently.
Organizations reduce time managing payouts while practically eliminating gas fees. A new stream requires only one on-chain transaction per employee, with no additional transactions needed unless the stream is modified or stopped. Polygon reduces the fees needed to use Superfluid. This will play a role in treasury management moving forward for DAOs and decentralized organizations.
This unique way of paying employees allows you to see your salary coming in real time every second. This will increase the use of Ricochet for real time investing, allowing users to stream their salaries into different digital assets using our rexMarket and rexLP products.

Business Recap and Outlook

Ricochet will be looking into CRE8RDAO to outsource some of our media needs. This DAO has created a team that can help projects with crypto media needs.
rexBank- another white hat contributor found a small bug in rexBank. With a few bugs already exposed by white hats we have been rewarding contributors for these hacks and appreciate finding these bugs before rexBank is fully integrated.
rexForce- The Ricochet contributor team will be known as the rexForce team. Contributors have been paid out $33,700 in RIC tokens so far. We will be running a contributor campaign upcoming encouraging people to join the rexForce. More information on contributor bounties can be found here: https://docs.ricochet.exchange/business/bounty-hunters

dAPP Improvements

Pages for different rex products have been separated

rexBank full integration into dApp in progress
App now renders without connected Metamask
Support for Gnosis Safe App on the horizon
Distribution view with countdowns similar to Superfluid dashboard with more metrics and USD volumes being added soon